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Twitter's first-day flight may not last

What to watch: Many market veterans advise not to fret if you didn't get Twitter stock yet.

Specialist Glenn Carell, who will handle the Twitter IPO, works at his post on the floor of the New York Stock Exchange.(Photo: Richard Drew, AP)

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Shares of LinkedIn, which soared 109% on its first day, were down over 16% three months later

Shares of Facebook languished for months before they started to recover from IPO trading losses

All of the shares of social media IPOs are doing better over the long term, excluding Groupon

NEW YORK -- Did you miss out on Twitter's 73% pop on its first day of trading? If so, don't fret. Or get too impatient and buy high. The reason: Recent trading history of hot IPOs says there's a good chance you will be able to get in at much lower prices three months from now, long after the IPO hype has faded from view.

And Facebook isn't the only hot social media stock or tech name to do a face plant in the first three months of its trading life. Shares of LinkedIn, the professional social media site, which jumped 109.4% on Day One, were down 16%-plus three months after its IPO on May 19, 2011. Yelp, the restaurant search site, was 38% lower three months after its 63.9% first-day gain on March 2, 2012. Groupon, the daily deal site, saw its shares fall 31% in the 90 days following its IPO on Nov. 4, 2011, when it gained 30.6%.

All of the stocks, except for Groupon, are now trading well above their price three months after they were born. Piling into soaring IPOs isn't necessarily the best investment strategy. "This is a dangerous game," says David Kotok, chief investment officer at Cumberland Advisors. "I would not chase this hot new issue."